Wednesday, January 7, 2015

In my post this weekend at http://ewaveanalytics.com I stated, "In the short-term, prices should move lower on Monday morning....Anyone short should have stops in the upper 2060s. The current area is also a good place to short with the stops this tight. Cash is a good place to be for those waiting to get long. Adding longs at this time is not recommended." The market broke down giving a good profit potential for anyone taking a recommended short. Find out what might be next on our website.

In my post this weekend at http://ewaveanalytics.com I stated, "In the short-term, prices should move lower on Monday morning....Anyone short should have stops in the upper 2060s. The current area is also a good place to short with the stops this tight. Cash is a good place to be for those waiting to get long. Adding longs at this time is not recommended." The market broke down giving a good profit potential for anyone taking a recommended short. Find out what might be next on our website.

My trading philosophy is 95% based on my own Elliott Wave analysis of the S&P 500. I try to keep my analysis and trading as simple as possible and do not use trend lines, channels, or definite retracement, price, or time targets. To me, inspecting the proportionality and symmetry of a market's price structure is the key to mastering the principle; it is through this that low-risk, high-reward trading opportunities are found.

Because they are the only things I look at when trading, the quality of the charts I post on this blog are very important to me. I think you will find my work to be the best Elliott Wave analysis of the S&P 500 on the internet.